SBA Communications (NASDAQ:SBAC) Price Target Lowered to $241.00 at Barclays

SBA Communications (NASDAQ:SBAC) had its price objective reduced by Barclays from $255.00 to $241.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other analysts also recently issued reports on the company. KeyCorp dropped their price target on SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a research report on Tuesday. Bank of America upgraded shares of SBA Communications from a neutral rating to a buy rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. Finally, BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an outperform rating on the stock in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $258.23.

SBA Communications Trading Down 0.4 %

Shares of NASDAQ:SBAC opened at $193.09 on Tuesday. The company has a 50 day moving average of $208.78 and a 200 day moving average of $222.32. The stock has a market cap of $20.87 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.20 and a beta of 0.59. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period in the previous year, the business earned $3.13 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that SBA Communications will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Activity

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in SBAC. Asset Management One Co. Ltd. increased its holdings in SBA Communications by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock valued at $8,664,000 after purchasing an additional 188 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of SBA Communications during the third quarter valued at approximately $212,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of SBA Communications by 12.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,618 shares of the technology company’s stock valued at $3,927,000 after acquiring an additional 2,100 shares in the last quarter. Xponance Inc. lifted its stake in SBA Communications by 4.0% in the third quarter. Xponance Inc. now owns 15,499 shares of the technology company’s stock worth $3,102,000 after acquiring an additional 600 shares during the period. Finally, Raymond James & Associates boosted its holdings in SBA Communications by 23.3% in the third quarter. Raymond James & Associates now owns 90,188 shares of the technology company’s stock valued at $18,053,000 after acquiring an additional 17,048 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.